1/5
£295,000
One bedroom apartment in Hackney Wick
To be eligible you must be able to answer YES to the following questions:
Are you at least 18 years of age?
Is your annual gross household income less than £90,000?
Are you a first time buyer, i.e. you don’t already own a home? If you do already own a home, have you accepted an offer from a buyer and in the process of selling it?
Are you unable to afford to buy a home suitable for your housing needs on the open market? If you are not sure, you can speak to an independent mortgage advisor
Are your current mortgage or rent payments up to date?
Do you have a good credit history (no bad debts or County Court Judgements), and can you afford the regular payments and cost involved in buying and running a home?
Do you have savings or are you able to easily access at least £4,000 to cover the costs of buying a home? This is a guideline figure, and the actual amount you need will depend on a number of factors
Do you have enough savings or are you able to access a minimum 10% of the equity share you are buying, as a mortgage deposit? Or do you have the cash funds available to buy the share without a mortgage?
Located in a small development in Hackney Wick, Hackney Sales are pleased to offer for sale this one bedroom first floor apartment, being sold as Shared Equity buyers can purchase either buy 100% share (£295,000) or 70% share (£206,500).
This property offers 42 sqm/452 sqft of living space, with a separate kitchen and family bathroom. The property also has an allocated parking space and communal garden.
This property is located an eight minute walk from Hackney Wick station, the River Lea and the bars and eateries these areas have to offer. Also located within easy walking distance are the Olympic Park (15 mins), Victoria Park (5 mins) and Westfield Stratford City (25 mins).
Minimum gross household income required for 100% share is £60,000 based on a 10% deposit. For 70% the minimum gross household income is £42,500, based on a 10% deposit.
Monthly service charge is £105, no rent is payable on this property at 100% or 70% share.
This property is part of the Lovell Covenant scheme; it was originally sold on a 70/30 Shared Equity basis under the Council’s low cost home ownership scheme for residents. Rent is not payable on the 30% equity held by the Council. This property can be purchased at either the 70% share or at 100%. This property is managed by Metropolitan Housing.
*Based on assumed mortgage interest rates and lender requirements at the time of a mortgage application. If you have a higher deposit but a lower income than the minimums displayed, you may still meet the affordability criteria. Financial assessments will be completed based on individual circumstances.
- Hackney Wick Rail Station (0.4km)
- Homerton Rail Station (0.9km)
- Stratford International DLR Station (1.4km)
- Stratford International Rail Station (1.4km)
- Pudding Mill Lane DLR Station (1.7km)
- Hackney Central Rail Station (1.8km)
- Stratford Underground Station (1.9km)
- Stratford (London) Rail Station (1.9km)
- Stratford DLR Station (1.9km)
- London Fields Rail Station (2.0km)